Prisma Archivo Pixels

Marx, M-C-M and Capital

What it is and Isn’t

This is a response to a recent article posted on medium titled ‘Explaining Marx’s M-C-M Formula for Capital, in which the author writes, “Money that circulates in the form of commodities is capital.” This is not accurate and confuses the issue. Money circulates in the form of money for the exchange of goods and services, that’s what an economy is. A commodity of one kind or another has…